SEB forming new business area within Asset Management & Life

SEB forming new business area within Asset Management & Life Incorporation of SEB Invest & Funds planned for next year SEB is forming a new business area within Asset Management & Life, designated SEB Invest & Funds as a working name. The intention is to incorporate the unit next year. SEB Invest & Funds includes SEB Funds, formerly Fund Markets, SEB Institutional Management and Investment Management, but in a reorganized form compared with today. The manager of the newly formed SEB Invest & Funds business area will be William af Sandeberg, previously manager of Investment Management within Asset Management & Life. "The reorganization and the planned incorporation will provide better market conditions and an independence, " says William af Sandeberg. "This is a necessity for us to be able to retain and strengthen our positions on a growing European savings market in which competition is intensifying." After the change, Asset Management & Life comprises SEB Invest & Funds, Enskilda Banken and SEB Trygg Liv. The manager of the main group Asset Management & Life will continue to be Anders Mossberg, who is also an Executive Vice President of SEB. SEB Invest & Funds has some 500 employees and manages about SEK 600 billion, of which one third is in funds. For further information, contact: William af Sandeberg. Manager, SEB Invest & Funds, +46 8 788 62 80 Boo Ehlin, Press Relations, +46 8 763 85 77, +46 70 763 85 77 Lotta Treschow, Manager, Investor Relations, +46 8 763 95 59 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/19/20000519BIT00820/bit0001.doc http://www.bit.se/bitonline/2000/05/19/20000519BIT00820/bit0002.pdf